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SOLD – Buchanan County Land Auction

Land Auction Results

Tract 1 – 30.5 acres sold for $8500 per acre or $259,250
Tract 2 – 75.5 acres sold for $8900 per acre or $671,950
Tract 3 – 69.0 acres sold for $9000 per acre or $621,000

Description: Tract 1 is 30.5 acres m/l located in Section 33, Fremont Township with a CSR2 of 88.3. Tract 2 is 75.5 acres m/l located in Section 32, Fremont Township with an 85.7 CSR2. Tract 3 is 69.0 acres m/l, located in Section 27, Byron Township with a CSR2 of 85.5. All properties are located in a high quality area of Buchanan County and each is available for the 2016 crop year.

Agents

Tract 1Buchanan County – The Southwest Quarter of the Southwest Quarter except the West 451.5’ of the South 693’ in Section 33, Township 89 North, Range 7 West of the 5th P.M., Buchanan County, Iowa.

Tract 2Buchanan County – The East Half of the Southeast Quarter in Section 32, Township 89 North, Range 7 West of the 5th P.M., Buchanan County, Iowa.

Tract 3Buchanan County – The North Half of the Southeast Quarter except commencing in the Northwest corner East 640.08’, South 109.1’, Southwest 1,090.51’, West 77.56’ and North 1,040.84’ to the point of beginning in Section 27, Township 89 North, Range 7 West of the 5th P.M., Buchanan County, Iowa

Method: Property will be offered for sale as three individual tracts and will not be combined. Iowa Land Sales and its representatives are acting as agents of the seller. Bidding increments solely at discretion of the auctioneer. Final sale is subject to approval or rejection by seller. Seller reserves right to refuse any and all bids.

Contract & Earnest Payment: A 10% earnest money payment is required on the day of the auction. Earnest payment may be paid in the form of cash or check. High bidder will enter into a real estate contract immediately upon the conclusion of the auction and deposit with Iowa Land Sales the required earnest payment. All funds will be deposited and held in the Iowa Land Sales trust account. Bidding not contingent on buyer financing. If the Buyer fails to fulfill the terms of the Purchase Agreement to be executed on the day of the sale, Seller may forfeit the Agreement, and all payments made by Buyer shall be forfeited, including earnest money.

Closing & Possession: Closing will occur on or about March 18, 2016. Balance of purchase price payable in cash or guaranteed check at closing. Possession will be granted to the buyer at closing. Leases have been terminated and each farm is available for the 2016 crop year.

The Purchase Agreement must be executed by the actual buyer or the legal representative of the Buyer on the day of the sale. In the event a potential Buyer cannot attend the auction, said Buyer can send a representative to the auction. Said representative must be registered with the Broker at least two (2) business days prior to the auction, along with a copy of a valid, signed Power of Attorney. Limited power of attorney forms are available upon request from the Broker

**The 1.81 acres were re-enrolled as CRP filter strips October 1, 2015. To comply with the new CRP contract, this filter strip has a large section along the West side overgrown with weeds needing to be reseeded, along with removing brush piles and burning the entire field this spring prior to May 15, 2016, which will be the responsibility of the new owner. Cost-share assistance is available for burning this field through the FSA. A map and accompanying information is provided with this brochure regarding the CRP contract.

*Current CRP Data is estimated for this parcel, given the existing contract represents Tract 1 & 2 combined. A Farm Reconstitution will be completed following the sale, and the contract will be revised for each separate parcel.

**The 2.79 acres was re-enrolled as CRP filter strips October 1, 2015. To comply with the new CRP contract, this filter strip has several small trees and brush piles needing to be removed, along with burning this field this spring prior to May 15, 2016, which will be the responsibility of the new owner. Cost-share assistance is available for burning this field through the FSA. A map and accompanying information is provided with this brochure regarding the CRP contract.

Winthrop to Tract 1
Travel east of Winthrop on Highway 939 2.0 miles and subject property will be located on the east side of Union Avenue and the north of the pavement.

Winthrop to Tract 2
Travel east of Winthrop on Highway 939 2.0 miles and subject property will be located on the west side of Union Avenue and the north of the pavement.

Winthrop to Tract 3
Travel north of Winthrop on Roberts Avenue 1.0 mile and turn left onto 205th Street. Continue west on 205th Street 1.5 miles and subject property will be located on the south side of gravel road.

Disclaimer: Iowa Land Sales obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.